Reference is made to the notice to the stock exchange dated 12 December 2016 concerning exclusive negotiations between AF Gruppen (AFG) and Oslo S Utvikling (OSU) on the development of Bispevika.
Today AF Gruppen received an order for the first construction stage that comprises Dronninglunden in area B2.
Dronninglunden comprises 140 apartments that now have been released for sale.Work starts in July 2017 and is scheduled for completion in the summer of 2019. The contract value is estimated at NOK 370 million, excluding VAT. The construction of the apartments is subject to adequate advanced sales.AF Gruppen and Oslo S Utvikling are negotiating a partnership agreement for the development of Bispevika - an area comprising approx. 1,300 homes with retail premises on all ground floors. A final partnership agreement is expected to be announced in March.
“We are pleased to receive the first order from OSlo S Utvikling for the development of homes in Bispevika. This project is expected to be the first of several construction stages in Bispevika. The contract includes ambitions for cost-effective and innovative development, and we are looking forward to cooperating with OSU on realizing these ambitions,” says CEO of AF Gruppen, Morten Grongstad.